LocalCoinSwap

LocalCoinSwap is a cryptocurrency exchange that decentralizes ownership and profits, paying dividends to token holders based on a smart contract.

How it works:

The company’s vision is to become a catalyst of the cryptocurrency market, eliminating barriers to entry.

The platform allows direct trade via a P2P protocol, using any payment method. LocalCoinSwap is aiming to list the most amount of cryptocurrencies among its competitors and constantly enlist new ICO tokens. The security of the platform is top notch, with 95% of funds being stored in cold storage, eliminating risk of hacking.

The thing that differs this ICO from others is that it is community owned and operated. LCS holders receive dividends and can participate in voting for crucial decisions the company makes. All financial operations are transparent, the code is open source. The company publishes a monthly financial report.

Innovation:

P2P cryptocurrency exchange protocols are not a novelty, there are a number of companies out there that offer the same service. However, LocalCoinSwap is one of the first companies in this field.

Innovation score: High

Token value:

LCS holders receive dividends from the company’s income. If the hard cap is reached these dividends are estimated to reach $49 per $1 invested by 2022. The dividends are paid in the currencies that were traded. Thus, LCS holders have access to a broad portfolio of crypto, holding just one currency. Dividends have to be claimed by signing a contract with LCS tokens, so the amount of the tokens is going to be slightly decreasing, however. The dividends can be redeemed any time.

LCS holders also have a right to receive airdrops of the ICOs that join the platform and to take part in the voting process in the company.

Token value score: High

White paper:

The white paper LocalCoinSwap presents talks about problems in the industry and means of solving them, shows a brief market overview and describes how does the platform work. It also explains how does decentralisation of ownership works and what possibilities does it create for ICO investors. Financial projections are presented as well.

White paper score: High

Roadmap:

The company was incorporated in 2015, in August 2017 development of the exchange began. Early investors will gain access to the platform in June 2018. In July LCS holders will participate in the first voting. The launch of the exchange is scheduled on August 2018. In October the company will release REST API. Mobile app will be ready in January 2019 and in February 2019 the company will hold the first distribution of dividends.

Roadmap score: High

Business model:

The platform aims to charge fees that beat competition. There are no withdrawal or deposit fees, just a 1% commission to the traders advertising their services on the platform. Traders who have high transaction volumes get lower fees.

Financial estimates show $62 revenue per $1 invested and $49 dividends per $1 invested by 2022.

Business model score: High

Team:

CTO has developed a series of Triangular Arbitrage trading algorithms. CFO is a financial analyst with 10 years of experience. COO has been successfully trading stocks for the last 8 years. The company’s security engineer is a data analyst and white-hat hacker with over 10 years of experience.

Technical advisor is the CEO of Coinomi Wallet, one of the largest on the market. The company has three legal advisors, one of them having experience in Goldman Sachs. One of the three marketing advisors helped to raise over $100 mio for different ICOs and writes for Forbes, Inc and Entrepreneur.

Team score: High

Competitors:

In its small niche, LocalCoinSwap is rivaled by Tokpie, Mandala and Paymon . The niche is not crowded yet, and these projects are either in the ICO stage or fresh out of it. Still, this means LocalCoinSwap will have to sweat to seize a significant portion of the market.

Competitors score: Medium

Overall thoughts:

LocalCoinSwap is up against strong competition, but its business model and privileges that LCS holders receive make it a risk worth taking.